The Texas Railroad Commission rejected a motion by Pioneer Natural Resources and Parsley Energy to order statewide production cuts. But the commissioners instituted a number of alternative measures intended to provide temporary relief to the Texas oil and gas industry. This article has the details.
“Could the Parties have Anticipated the Unthinkable?” Force Majeure in the Texas Energy Industry after COVID-19
Refineries, pipelines, oil and gas rigs and energy and petrochemical production facilities are suddenly subject to suspension or shutdown as a result of a major shock in oil prices combined with the global COVID-19 pandemic.
Baker McKenzie partners C. Thomas Kruse and J. Denmon Sigler analyze how these events impact current contracts and customer relationships and how disputes over these shutdowns will be treated.